Dvidends are payable to shareholders of record on declaration date, 30 Uay Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank enter "0" wherever required). ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before curent financing Less disbursements

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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*Dividends are payable to shareholders of record on declaration date, 30 days after declaration.
Required:
1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borow to meet its
minimum cash requirement. (Leave no cells blank enter "0" wherever required).
ARROWROOT COMPANY
Cash Budget for July 31, 2021.
Total cash available before current financing
Less disbursements
Total disbursements
Excess (deficiency) of cash available over disbursements
Financing
Borrowings
Repaynents
10
leterest
Total financing
Transcribed Image Text:*Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borow to meet its minimum cash requirement. (Leave no cells blank enter "0" wherever required). ARROWROOT COMPANY Cash Budget for July 31, 2021. Total cash available before current financing Less disbursements Total disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repaynents 10 leterest Total financing
The controller of Optimum wishes to improve the company's control system by preparing a monthly cash budget. The following
information relates to the month ending July 31, 2021:
June 30, 2021, cash balance
Dividends were declared on June 15
Cash expenditures to be paid in July for operating expenses
Depreciation expense
Cash collections to be received
Herchandise purchases to be paid in cash
Equipment to be purchased for cash
Optimun wishes to naintain a ninimum cash balance of
$ 98,000
28, 000
75,600
9,800
182,000
114,400
42, 200
38,000
DIvidends are payable to shareholders of record on declaration date, 30 days after declaration.
Required:
1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its
minimum cash requirement. (Leave no cells blank - enter "0" wherever required).
ARROWROOT COMPANY
Cash Budget for July 31, 2021
Total cash available before current financing
Less disbursements
Total disbursements
Transcribed Image Text:The controller of Optimum wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance Dividends were declared on June 15 Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Herchandise purchases to be paid in cash Equipment to be purchased for cash Optimun wishes to naintain a ninimum cash balance of $ 98,000 28, 000 75,600 9,800 182,000 114,400 42, 200 38,000 DIvidends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "0" wherever required). ARROWROOT COMPANY Cash Budget for July 31, 2021 Total cash available before current financing Less disbursements Total disbursements
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